Telangana Government to present 1.30 Lakh crore Budget

Posted on: 15 Mar 2016 09:51:48

15 March 2016 Current Affairs: Telangana government on Monday presented a revenue surplus Budget for the year 2016-17 while allocating more than 50% of the total estimated expenditure of Rs 1.30 lakh crore under the plan outlay.In an effort to fully utilise the state's share in the river waters, the government has allocated a whopping Rs 25,000 crore for the irrigation sector under plan outlay in this Budget as compared to an expenditure of Rs 8,500 crore for irrigation in the current financial year.The Budget indicates a revenue surplus of Rs 3,718.37 crore and a fiscal deficit of Rs 23,467.29 crore, which is 3.5% of estimated GSDThe government expenditure in the current year fell short by Rs 15,000 crore. The minister attributed this to lower plan transfers from the Centre as well as lower than anticipated proceeds from the sale of land due to court litigation. The government plans to raise Rs 29,500 crore debt to support the plan outlay.Apart from irrigation, the government has made a substantial plan allocations to Panchayat Raj (Rs 8,919 crore), roads (Rs 3,525 crore) and health (Rs 2,462 crore), besides social sectors. In addition to this, a massive drinking water grid development programme costing over Rs 40,000 crore and the construction of 2 lakh double-bedroom houses for weaker sections, at a cost of Rs 11,000 crore, are going on outside the budgetary allocations.Work on phase-1 of the National Investment and Manufacturing Zone at Medak is expected to commence in 2016-17 and an amount of Rs 967 crore has been proposed under the plan for the promotion of industries during the new financial year.To achieve a power generating capacity of 23,912 Mw with in the next three years as compared to a little over 7,000 Mw of existing capacity.The non-plan items in the annual Budget for 2016-17 include Rs 4,250 crore towards debt waiver to farmers, Rs 4,470 crore towards power subsidy and Rs 2,200 for the rice subsidy.